How to Save Your Money + Live Your Best Life
How are your finances looking right now?
Do you have money saved for a rainy day?
It’s okay if you don’t. It’s common to feel inadequate or behind when it comes to your finances. Social media has us thinking that every one has their finances in order when in reality they don’t. A lot of people you follow live their life on credit and end up in major debt trying to keep up with the joneses. I would often find myself unconsciously comparing my finances to my friends, family, and people I follow on social media. I had to realize that making the right decisions when it came to spending my money and saving would make me feel a whole lot more secure financially.
So, when I got hired for my recent job I decided that I was going to use this opportunity to save more than I have ever saved before. I am proud to say that I have reached my first savings goal. I am super excited and pump to see my savings grow with time. I also have still been able to live the life that I love while saving, such as spending time with friends and family, traveling, and just investing money in things that bring me joy.
It has been an amazing experience and I want you to feel the same rush and excitement I felt when I finally reached a savings goal that I have been working on. I wrote down five tips that have helped me accomplish my savings goal that still gave me the freedom to enjoy my hard earned coin.
Here they are:
Set a Goal - It’s easy to say you want to save but how much do you want to save? when do you want to reach this goal? and what are you saving for? It’s important that you take the time to re-evaluate your goals and make the best financial decisions that will help you get there.
Time to Set A Budget - Now that you’ve set your goals, it’s time to start setting up a budget that works for you and your lifestyle. Write down your fixed expenses, savings, and miscellaneous expenses. This will help you figure out your spending limit and what it will take for you to reach your savings goal.
Spend Your Money Wisely - Yes, you can still do the things that you love such as shopping, going to movies, and traveling. As long as you have a set amount on how much you will spend on these areas. You will be able to reach your goal without sacrificing the things that you love and enjoy. It’s all about balance!
Stick To Your Budget - You won’t be able to reach your goal or save in general without self-discipline. It’s important that you stick to your budget at all costs and that you don’t dip into your savings unless it’s an emergency.
Make Better Decisions - If you aren’t actively making better financial decisions than your finances will not improve. It’s important that you implement better decisions into your routine. If you have a budget for eating out than don’t go over your budget. Have more self-control and discipline!
I hope these tips will help you reach your savings goal and feel more secure financially. Don’t let your finances control you, you control it. Don’t keep up with the joneses and ball out on credit cards. Use debit cards and cash instead. You will thank yourself later! It’s also important that you realize that money won’t be a stressor in your life once you know how to handle it.
If you don’t make enough to live the way you live. It’s either time to search for a new job or downgrade. Don’t get used to living paycheck to paycheck. Start building wealth now and make financial decisions that will set you and your family up.
Even if you didn’t grow up rich or middle class, doesn’t mean that you won’t be able to. Start making better decisions that will help you get to the financial level that you desire. You got this!
QUESTION: WHAT ARE THINGS THAT YOU DO TO SAVE MONEY?
MY ANSWER: I bring lunch to work, I try to spend within my budget (sometimes, still working on eating out), and I always make sure to transfer money to my savings first then decide what to do with the rest after ( usually write out a budget a day before I get paid). I do make sure to leave money in my checkings at all times (overdrafts suck!) and I use the cash envelope method so I don’t get swiper crazy (it helps a whole lot)
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